Toa Payoh 5-room flat fetches $880,000, highest in the area this year

SINGAPORE - A seven-year-old five-room Housing Board (HDB) resale flat in Toa Payoh was sold for $880,000 in April this year, a figure that made it the most expensive transaction for such flats in the area so far this year.

It is also the third-most expensive sale ever for flats in the Toa Payoh area. The runner-up is another five-roomer at the same block, which was sold for $894,000 in 2012, according to data on the Singapore government's open data portal.

However, the most expensive flat in the area remains the one that fetched $955,000 at Block 154, Toa Payoh Lorong 2 last year.

According to data published on the HDB website, the 1,184 sq ft unit is situated between the 19th and 21st storeys at Block 79C Toa Payoh Central, which is just across the road from the bustling Toa Payoh Central and HDB Hub.

It is also just 200m from the Toa Payoh MRT station on the North-South Line.

Real estate portal The Edge reports there have been a total of six five-room flats that have crossed the $800,000 mark so far this year.

In 2015, a total of 15 such flats were sold for $800,000 or more, according to data from HDB.

The latest data for April from property website SRX Property showed that resale prices of public flats inched 0.1 per cent lower in April.

However, a total of 1,828 units changed hands, the highest number since property cooling measures were introduced three years ago.